MoonPay has agreed to acquire North Capital Investment Technology, a Salt Lake City-based private-markets platform, in an all-stock transaction valued at more than $60 million. Once the deal closes, subject to regulatory approval, North Capital will operate as a wholly owned subsidiary of MoonPay, folding a licensed securities infrastructure business into a company that built its name processing crypto payments.
North Capital's value to MoonPay sits largely in its paperwork. The company's affiliates hold broker-dealer, alternative trading system, transfer agent and investment advisory registrations with the US Securities and Exchange Commission, the kind of licensing stack that normally takes years to build from scratch. Its existing platform has processed roughly $9 billion in primary and secondary transaction volume, supporting capital raising, asset custody, clearing and secondary trading for private issuers and fund managers.
MoonPay CEO Ivan Soto-Wright framed the purchase as regulatory groundwork rather than a product launch.
"We're building the regulatory foundation to support mass adoption of tokenized real-world assets," Soto-Wright said, adding that bringing North Capital's capabilities into the MoonPay ecosystem "can help connect different parts of the financial system through modern, programmable infrastructure."
The North Capital purchase is the third acquisition MoonPay has made this year as it pushes beyond its original business of converting fiat currency into crypto. Earlier in 2026, the company bought Solana-based trading infrastructure provider DFlow and paid roughly $100 million in stock for Israeli security startup Sodot. Read together, the three deals point toward a company trying to own more of the stack around tokenized assets: trade execution through DFlow, custody-grade security through Sodot, and now securities licensing and back-office infrastructure through North Capital.
Why tokenized real-world assets matter now
The market MoonPay is buying into has grown quickly. Tokenized real-world assets on public blockchains reached roughly $31 billion by July 2026, according to onchain tracker rwa.xyz, up more than 400% from early 2025 and spread across 167 platforms and nearly 960,000 holders. Tokenized US Treasuries and private credit make up most of that total, and asset managers including BlackRock, Franklin Templeton and Apollo now run live tokenized products alongside newer entrants. Boston Consulting Group has projected the category could reach $16 trillion by 2030, a figure that helps explain why a payments company like MoonPay would pay a premium for regulatory access rather than try to build broker-dealer licensing from scratch.
MoonPay's bet also lines up with a broader shift already underway in traditional finance. Canada's largest banks have begun piloting tokenized deposits of their own, and Apple and Google have both posted stablecoin-related job listings as big technology companies angle for a piece of programmable-money infrastructure. US regulators have started making room for the shift too: the SEC's recently introduced "innovation exemption" lets qualifying platforms run onchain trading of certain tokenized securities, the kind of relief that a licensed operator like North Capital is positioned to use once it sits inside MoonPay.
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MoonPay has not disclosed a target closing date for the acquisition, saying only that the deal remains subject to regulatory approval. For North Capital's existing clients, built up over years of serving private issuers and fund managers across roughly $9 billion in transaction volume, the more immediate question is how much of that infrastructure gets absorbed into MoonPay's consumer-facing crypto business versus kept running as a standalone licensed entity.
FAQ
How much is MoonPay paying for North Capital?
MoonPay is acquiring North Capital in an all-stock deal valued at more than $60 million, subject to regulatory approval.
What licenses does North Capital hold?
North Capital's affiliates hold SEC registrations as a broker-dealer, alternative trading system, transfer agent and investment adviser, and its platform has processed about $9 billion in transaction volume.
Is this MoonPay's first acquisition this year?
No. MoonPay also bought Solana trading infrastructure provider DFlow and paid roughly $100 million in stock for security startup Sodot earlier in 2026.
What does MoonPay plan to do with North Capital?
CEO Ivan Soto-Wright said the deal builds regulatory infrastructure to support tokenized real-world assets, connecting North Capital's licensing and back-office capabilities to MoonPay's crypto-payments business.
